SUMMARY
The startup offers yoga and meditation-based therapeutic solutions for lifestyle diseases
It will use the freshly raised capital to launch and scale its healthtech platform
The global yoga industry is worth $88 Bn excluding clothing and accessories segments
Healthtech startup K&L Wellness Technology has raised a seed round of INR 30 Cr ($4.03 Mn) from angel investors Vimal Kedia and Surendra Kedia of Manjushree Ventures and Narendra Firodia of Sohamm Group.
Founded in 2020 by Karan Talreja and Luke Coutinho, K&L Wellness provides yoga and meditation-based therapeutic solutions for those suffering from lifestyle diseases. The two founders also run a health and fitness brand called RESET based out of Mumbai and Bengaluru.
The startup will use the freshly raised capital to launch and scale its healthtech platform that blends ancient therapeutic research with cutting-edge technology. It further plans to expand the team and build scalable infrastructure.
“We see this as a good opportunity given the demand being generated in the health sector. We see value and potential in traditional therapeutic methods like yoga and meditation as a means for healthcare in future,” said Vimal Kedia, managing director, Manjushree Ventures.
According to Inc42 DataLabs, the total market size of the healthcare industry in India is estimated to be $202 Bn, marking a growth of 84% from the $110 Bn market size in 2016.
In April last year, yoga studio chain Sarva had raised funds from US-based venture capital firm Mantra Capital to accelerate its digital footprint. Even though the Mumbai-headquartered chain offers services through its brick-and-mortar studios, it raised the funds to focus specifically on the digital medium. It had also raised funds from Rajnikanth’s daughter Aiswaryaa R Dhanush earlier the previous year.
The yoga industry is worth over $88 Bn worldwide and is expected to reach $215 Bn by 2025, growing at a CAGR of 11.7%, and that figure just includes yoga studios. When retreated, clothing, mats, blocks and other accessories are accounted for, the global yoga market is worth well over $130 Bn.
